June 6 Shares of Arista Networks Inc,
rose nearly 35 percent in their debut, valuing the network
switch maker at $3.7 billion.
Arista's IPO raised about $226 million after its offering of
5.25 million shares was priced at $43, well above its expected
range of $36-$40.
The company, which competes with Cisco Systems Inc,
makes network switches to handle traffic at large Internet data
Arista's customers include Microsoft Corp, VMWare
Inc, Facebook Inc, Yahoo Inc, Comcast
Corp and Citigroup Inc.
Morgan Stanley and Citigroup were the lead underwriters to
Arista shares opened at $55.25 on the New York Stock
Exchange on Friday and touched a high of $58.
(Reporting by Avik Das in Bangalore; Editing by Joyjeet Das)